In October, the turnover of DEX on Solana amounted to $52.9 billion. In November, the metric exceeded this value by 107.6%.
The previous monthly record dates back to March 2023 ($59.8 billion). Both then and now, such high levels are driven by the hype around meme coins.
In November, monthly revenues of Pump.fun reached a record $75.4 million.
The increase in transactional activity has affected the rise in the price of SOL. From November 5 (Donald Trump's victory in the US elections) to November 22, the cryptocurrency rose by 61.5%, reaching an ATH of $264.
In the incomplete month of November, the trading volume on decentralized exchanges (DEX) in the Solana network reached a record $109.8 billion. In comparison, the figure for Ethereum is almost half – $55.3 billion, according to DeFi Llama.
Other on-chain metrics, such as the number of active addresses, have also improved. At its peak, the figure reached 24.48 million.
The market capitalization of Solana corresponds to 29.5% of the value of Ethereum, according to calculations by analyst Aylo.
Let us remind you, CEO of Two Prime Digital Assets Alexander Blum predicted the launch of SOL-ETF by the end of 2025.
On November 21, CBOE sent relevant applications from VanEck, 21Shares, Canary Funds, and Bitwise Asset Management to the SEC.
